Writer: Macushla Pinder
Debate on the 2020/2021 Budget opened in the House of Assembly today with Deputy Prime Minister and Minister of Finance Peter Turnquest spending some time clearing up what he called misconceptions about how the government intends to put the country back on a path of economic recovery.
A key component of that strategy focuses on fiscal consolidation through revenue enhancement and expenditure containment.
The deputy prime minister however made it clear that the extent to which the country bounces back is reliant on the COVID-19 pandemic.
“Our economic recovery will depend on how fast the health crisis can be contained…In our Resilient Bahamas plan, we chose targeted investments for public health enhancements…infrastructure rebuilding, job creation and small business development,” he said. “This is a plan that provides a foundation of support for the Bahamian people
However, Minister Turnquest reiterated that the government’s plan to build a resilient Bahamas will come at a cost.